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Global upstream investments to decline 2% in 2025, says Rystad Energy

OilNOW -
Global upstream investments are forecast to drop by 2% in 2025, marking a slowdown after years of growth, according to Rystad Energy.  Despite the overall decline, deepwater investments are set to rise by 3%, supported by projects in Suriname, Mexico,...
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MODEC Guyana seeks contractor for gas detector supply and maintenance on Errea Wittu FPSO

OilNOW -
MODEC Guyana is soliciting proposals for the supply, servicing, and calibration of portable gas detectors to support operations on the UARU Floating Production Storage and Offloading (FPSO) unit.  MODEC said it aims to enhance safety and operational risk management for...
News

Brazil enacts law enabling flexible local content policies in oil and gas

OilNOW -
The Brazilian government has enacted Law 15,075/2024, introducing significant changes to the regulation of local content and production sharing agreements in the oil and gas sector. Effective December 26, 2024, the law aims to boost investments and optimize the...
News

A look back at 2024 milestones in Guyana’s oil and gas industry 

OilNOW -
The year 2024 marked pivotal advancements in Guyana's oil and gas sector, cementing the country's position as a key player in the global energy market. Here’s a look at the stories that made waves this year, highlighting the industry's...
News

Guyana Oil & Gas: What to look forward to in 2025

Kemol King -
Every year, Guyana's oil and gas sector seems more monumental than the last. Lots of watershed moments are expected in 2025. Guyana will take its place as the world's largest per capita producer of crude oil. Here’s what to look...
Exploration

Noble Developer to drill three wells offshore Suriname

OilNOW -
Noble Corporation announced on Monday that it has entered an agreement with PETRONAS Suriname E&P B.V. for the high-specification semisubmersible rig Noble Developer to drill three wells offshore the South American country. Noble said the contract is expected to commence...
Guyana's Oil Ledger

Stabroek Block’s 2024 production exceeded 200 million barrels in November

Kemol King -
ExxonMobil Guyana sustained stable production at its Stabroek Block projects in November 2024, accumulating 205 million barrels since the year began, at an average rate of 612,000 barrels per day (b/d). The barrels are shared between Exxon, Hess, CNOOC...
News

OilNOW’s top stories of 2024

OilNOW -
There has been incredible progress in Guyana and the region on multiple fronts. Here are the top stories from OilNOW this year, based on readership. January: Engineer students from University of Guyana being absorbed by oil companies even before graduation...
News

With 600+ homicides and counting, Trinidad declares state of emergency

OilNOW -
Trinidad President Christine Carla Kangaloo declared a state of emergency, the government announced Monday morning. The twin-island nation is grappling with a crisis of violent crime, marked by an increase in homicides. Energy Minister Stuart Young said on December 30...
News

ExxonMobil’s Guyana oil ventures: A roadmap to 1.7 million b/d

OilNOW -
With more than 30 discoveries made offshore Guyana, ExxonMobil has a line of sight for the addition of eight floating production, storage, and offloading (FPSO) vessels by 2027, a goal that is expected to see oil production reach 1.7...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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